US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

Equity Capital Markets

Aardvark Therapeutics / Equity Capital Markets

<ul>
<li>The company set terms for an IPO on Thursday seeking up to $85m if the offering prices at the middle of the ($16-$18) range. </li>
<li>Aardvark Therapeutics develops novel, small-molecule therapeutics to activate innate homeostatic pathways for the treatment of metabolic diseases.</li>
<li>Their lead product candidate is an oral gut-restricted small-molecule agonist of certain TAS2Rs expressed in the gut lumen and have initiated a Phase 3 trial for hyperphagia associated with PWS.</li>
</ul>


The company set terms for an IPO on Thursday seeking up to $85m if the offering prices at the middle of the ($16-$18) range. 
Aardvark Therapeutics develops novel, small-molecule therapeutics to activate innate homeostatic pathways for the treatment of metabolic diseases.
Their lead product candidate is an oral gut-restricted small-molecule agonist of certain TAS2Rs expressed in the gut lumen and have initiated a Phase 3 trial for hyperphagia associated with PWS.


Aardvark Therapeutics (AARD): Obesity Related Biotech Seeking $85m After Setting Terms for IPO

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

<ul>
<li>There is a certain connection between Sunho and Genscript. So, Sunho has a typical style of "CXO switching to biotech" – That is to do whatever is popular.</li>
<li>For core products, IAP0971 and IAE0972 just completed phase I trials, still with high R&amp;D failure risks. IAH0968 is difficult to become a blockbuster variety due to strong competing products.</li>
<li>As investors’re already rational about investing in unprofitable Biotech. The companies without commercialized products and with uncertain outlook may not be favored by the market. Therefore, high valuation is unreasonable.</li>
</ul>


There is a certain connection between Sunho and Genscript. So, Sunho has a typical style of "CXO switching to biotech" – That is to do whatever is popular.
For core products, IAP0971 and IAE0972 just completed phase I trials, still with high R&amp;D failure risks. IAH0968 is difficult to become a blockbuster variety due to strong competing products.
As investors’re already rational about investing in unprofitable Biotech. The companies without commercialized products and with uncertain outlook may not be favored by the market. Therefore, high valuation is unreasonable.


Pre-IPO Sunho Biologics (SHB HK) - High Valuations Can Be Hard to Come By

United States

ImmunityBio, Inc. operates as a biotechnology company. The Company focuses on developing cell and immunotherapy products for the treatment of cancers, infectious, and inflammatory diseases. ImmunityBio serves customers in the United States.

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ImmunityBio (IBRX US)

Pre-IPO Sunho Biologics (SHB HK) - High Valuations Can Be Hard to Come By

Sunho does not have any drugs at NDA/BLA stage or commercialized products. Its outlook is highly uncertain due to challenging clinical trials...

Xinyao (Criss) Wang

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Aardvark Therapeutics (AARD): Obesity Related Biotech Seeking $85m After Setting Terms for IPO

​Aardvark Therapeutics sets terms for IPO, seeking up to $85m. Developing small-molecule therapeutics for metabolic diseases, with lead product in...

IPO Boutique

Pre-IPO Sunho Biologics (SHB HK) - High Valuations Can Be Hard to Come By

Sunho does not have any drugs at NDA/BLA stage or commercialized products. Its outlook is highly uncertain due to challenging clinical trials...

Xinyao (Criss) Wang

Aardvark Therapeutics sets terms for IPO, seeking up to $85m. Developing small-molecule therapeutics for metabolic diseases, with lead product in...